“What is LWF in my salary slip?” We have all been curious about this Labour Welfare Fund (lwf) deduction every month. The Labour Welfare Fund is a contribution made by both employer and employee. This regulatory body is individually managed by states and The Labour Welfare Fund exists in as many as 16 states in India. The purpose of this fund is to provide a variety of welfare measures to labourers.
How is LWF calculated from our salary?
According to the Tamilnadu Labour Welfare Board from the year 2015 every year the employee contributes Rs. 10 and the employer contributes Rs.20 towards the Labour Welfare Fund.
Who is LWF applicable to?
Any establishment with five or more employers can contribute to the LWF fund. And those up until the salary of Rs. 25000 per month can avail the Labour Welfare schemes.
What are the Labour Welfare Fund Benefits?
A lot of benefits and schemes are available for those who contribute to LWF in Tamil Nadu such as
- Preschools with healthy midday meals, uniform and early education for children aged 2-5.
- Tailoring courses for female members of workers who contribute to LWF.
- Educational scholarship for workers children pursuing higher education.
- Other educational incentives and book allowances.
- Workers who need spectacles can receive Rs.1000 reimbursement with prescription.
- Rs.10000 as marriage assistance to workers children
- Incase of Accidental or natural death of workers assistance is provided to dependants plus an additional amount is provided for funeral expenses.
- Three wheelers are given to handicapped members and reimbursement is provided for hearing aids and artificial limbs.
- Holiday homes at Valparai, Mamallapuram and Courtallam are available for workers and their families at very low cost.
What Constitutes the Labour Welfare Fund?
Apart from the LWF deducted from Salary and employer contribution the government contributes Rs. 10 to every worker yearly. Other than that any unpaid dues to workers that is accumulated by the establishments, fines collected from the workers, Any penalty or interests towards the Labour Welfare Fund, any unclaimed amount credited to the government, any grants raised by government for the Labour Welfare in total contribute to the Labour Welfare Fund.
